Assenagon Asset Management S.A. lessened its stake in shares of Cooper-Standard Holdings Inc (NYSE:CPS) by 85.2% in the third quarter, Holdings Channel reports. The institutional investor owned 14,700 shares of the auto parts company’s stock after selling 84,613 shares during the period. Assenagon Asset Management S.A.’s holdings in Cooper-Standard were worth $601,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of CPS. State of Alaska Department of Revenue increased its stake in Cooper-Standard by 134.1% during the third quarter. State of Alaska Department of Revenue now owns 12,983 shares of the auto parts company’s stock worth $530,000 after acquiring an additional 7,438 shares during the last quarter. Parallax Volatility Advisers L.P. increased its stake in Cooper-Standard by 106.9% during the second quarter. Parallax Volatility Advisers L.P. now owns 2,307 shares of the auto parts company’s stock worth $106,000 after acquiring an additional 35,631 shares during the last quarter. Harvey Partners LLC bought a new stake in Cooper-Standard during the second quarter worth approximately $2,016,000. Nuveen Asset Management LLC bought a new stake in Cooper-Standard during the second quarter worth approximately $3,789,000. Finally, Bank of America Corp DE increased its stake in Cooper-Standard by 50.6% during the second quarter. Bank of America Corp DE now owns 269,417 shares of the auto parts company’s stock worth $12,344,000 after acquiring an additional 90,525 shares during the last quarter. 99.97% of the stock is owned by institutional investors.
In other Cooper-Standard news, SVP Song Min Lee bought 3,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average price of $33.27 per share, for a total transaction of $99,810.00. Following the completion of the transaction, the senior vice president now directly owns 16,784 shares of the company’s stock, valued at $558,403.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.30% of the stock is owned by insiders.
Shares of NYSE:CPS opened at $34.35 on Wednesday. Cooper-Standard Holdings Inc has a 1 year low of $30.82 and a 1 year high of $95.57. The business has a 50 day simple moving average of $39.23 and a two-hundred day simple moving average of $43.54. The firm has a market capitalization of $563.78 million, a PE ratio of 3.91 and a beta of 1.65. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.75 and a quick ratio of 1.49.
Cooper-Standard (NYSE:CPS) last announced its earnings results on Thursday, August 1st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.80). Cooper-Standard had a net margin of 4.47% and a return on equity of 7.13%. The business had revenue of $764.81 million for the quarter, compared to analysts’ expectations of $832.61 million. During the same quarter last year, the firm earned $2.74 EPS. The firm’s quarterly revenue was down 17.6% on a year-over-year basis. Equities research analysts expect that Cooper-Standard Holdings Inc will post 3.36 EPS for the current fiscal year.
Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.
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